The Minister of Finance, Planning, and Economic Development, Hon. Matia Kasaija, has reiterated that the country’s economy grew by 5.5 per cent in the current financial year surpassing the 2021/2022 growth rate.

Kasaija who presented the 2023/2024 Budget at a sitting of Parliament presided over by Speaker Anita Among on Thursday, 15 June 2023 at the Kololo Ceremonial Grounds, said that the economy reached Shs184.3 trillion compared to Shs162.9 trillion last year.

The minister stated that despite initial challenges, the services sector experienced a growth rate of 6.2 per cent while Agriculture grew by five per cent.

He added that the industries saw a growth of 3.9 per cent, driven by manufacturing and construction activities, particularly in the oil and gas sector.